Los Angeles, CA – According to filings with the U.S. Securities and Exchange Commission, CYTRX is raising $18,240,000.00 in new funding. Sources indicate as part of senior management Chief Financial Officer, John Caloz played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.

About CYTRX
CytRx Corporation (OTCQB: CYTR) is a biopharmaceutical company with expertise in discovering and developing new therapeutics principally to treat patients with cancer and neurodegenerative diseases. CytRxs most recent advanced drug conjugate, aldoxorubicin, is an improved version of the widely used anti-cancer drug doxorubicin and has been out-licensed to ImmunityBio, Inc. (NASDAQ: IBRX). In addition, CytRxs drug candidate, arimoclomol, was sold to Orphazyme A/S (Nasdaq: ORPH) in exchange for milestone payments and royalties. Orphazyme is developing arimoclomol in Niemann-Pick disease Type C (NPC) and Gaucher disease.

To learn more about CYTRX, visit http://www.cytrx.com/

Contact:
John Caloz, Chief Financial Officer
310-826-5648
https://www.linkedin.com/in/john-caloz-0507592/

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